Harvard president Derek Bok knows nothing about the Texas university system. This is about the Texas Permanent University Fund (a.k.a “the Puff”). Those universities that do not get distributions from the fund have to go to the legislature every two years for funding. The lucky three that are supported by the fund get hundreds of millions from the fund without any need for taxation.
As I understand the PUF, it accounts for a small percentage of the eligible universities’ budgets. This amendment allows the legislature to define which universities would be eligible.
As long as the legislature is held by conservatives, that’s a good thing. If it’s held by liberals, then this fund could become a reward system for votes. I’m concerned about it, but you can twist my arm with more information. :) I’m open to outside influence on this one.
I hate the wiki, but here’s a link for those unfamiliar with PUF.
http://en.wikipedia.org/wiki/Permanent_University_Fund